PhytoMedical Technologies has signed a letter of intent with Shanghai Medicilon to advance its brain cancer drug candidate D11B.
Under the proposal, Shanghai Medicilon will conduct investigational new drug (IND) enabling studies on D11B and the partners will seek a Chinese pharmaceutical company that will fund the studies.
PhytoMedical will in turn grant exclusive licence to the pharmaceutical company to develop and market the drug within China.
The Chinese pharmaceutical company and PhytoMedical will be responsible for submission of the INDs to regulatory agencies in China and Germany.
Shanghai Medicilon will not own the intellectual property rights as part of the collaboration.
PhytoMedical completed in vivo efficacy and toxicity studies for its patented compound in February 2009.
The compound is modelled on a bis-intercalation, a method by which compounds bind to the DNA of a cancer cell and prevent its replication resulting in the death of the cancer cell.